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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (149047)	9/22/2008 2:43:08 PM
From: Jim McMannis	Respond to of 306849

Florida loses 76,400 construction jobs in one year If you doubted the economic slump was other than real estate related, guess again. blogs.tampabay.com Almost half the state's job losses the past year were in construction, most of that housing related. Between August 2007 and August 2008, 76,400 construction jobs melted away. "Professional and business services" shed 31,200 jobs the past year. That's a broad category that includes accounting, architecture, engineering, information technology, secretarial, etc. And for the not-so-bad: "Real estate, rental and leasing" actually gained jobs the past year. Seems the purge that began in early 2006 has ebbed. And, of course, hospitals kept hiring in droves. What would we do without the healthcare industry? Here's the state's employment report released Friday: Download augempl.pdf Several explanations why we're feeling the higher unemployment now and not a year ago when the housing industry was already in full retreat: Many of the first to be let go were undocumented workers able to migrate with ease. Their positions weren't always reflected on the employment/unemployment rolls Though sales were suffering a year ago, many projects continued on auto-pilot in 2007, their developers hoping for a fast turnaround. The credit crunch that unofficially began in August 2007 with the subprime meltdown was the start of a period of deeper unemployment. No loan, no project, no workers needed.